Silver price (XAG/USD) pares its recent losses from the previous session, trading around $44.00 per troy ounce during the European hours on Thursday. The non-interest-bearing Silver maintains its position near a 14-year high of $44.47, which was reached on Tuesday as traders widely expect a 25-basis-point rate cut by the US Federal Reserve (Fed) at its October policy meeting. US Federal Reserve (Fed) Chair Jerome Powell struck a cautious note, stressing that the US central bank must weigh stubborn inflation against a softening job market, calling it "a challenging situation" and reiterating...
The Japanese Yen (JPY) attracts some buyers during the Asian session on Thursday and recovers a part of the previous day's heavy losses in reaction to the hawkish Bank of Japan (BoJ) expectations. In fact, Minutes from the BoJ's July meeting revealed that board members expect the central bank to keep hiking if inflation and the economy move as estimated. This underscores mounting pressure within the central bank to phase out the massive monetary stimulus. Apart from this, the cautious market mood turns out to be another factor driving some safe-haven flows towards the JPY. Meanwhile, the...
Gold prices held steady on Thursday with a slightly weaker dollar lending some support, while investors awaited key U.S. economic data for further insights into the Federal Reserve policy path. Spot gold was at $3,737.01 per ounce, as of 0347 GMT. U.S. gold futures for December delivery were unchanged at $3,767.90. The U.S. dollar index fell 0.1%, making greenback-priced bullion less expensive for overseas buyers. On Wednesday, San Francisco Federal Reserve Bank President Mary Daly said she "fully supported" the Fed's decision to cut its policy rate last week and expects further...